Insurance costs for teen drivers drop but vary widely by state
From The Huffington Post:
U.S. families who add a young driver to their existing auto insurance policy will see an average annual premium increase of 79 percent, according to the study. The reason for this increase isn’t because teens are intrinsically bad drivers — they’re simply less experienced than their adult counterparts.
“Driving well takes practice, and since all teens are new drivers they make all sorts of mistakes that more seasoned drivers can avoid,” says Eli Lehrer, president of the nonprofit R Street Institute. “Because of this, they make many more claims, which makes them more expensive to insure.”
The good news is that the average premium increase for teen drivers is down from last year’s average increase of 80 percent, and even lower than 2013, when the increase was as high as 84 percent. These gradual decreases speak to a larger trend in teen driver safety.
